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Rigathi Gachagua: I Don't Bank My Money Because They Need A Lot Of Explanation

Mathira MP Rigathi Gachagua says he does not bank all his money and in his defence, he wants to avoid too many explanations when depositing or withdrawing more than Ksh 1 million.

While speaking to Citizen TV on Thursday, October 21, the lawmaker revealed that he does not bank part of the money he earns from his farm businesses because he is not ready to give 'unnecessary explanations.

"I, myself, some money I make in the farm I don't bank it. Why? I have to explain where it came from. this is my farm, my cow yet when I was ploughing the land I wasn't answering anybody. If I bank the money, I need to get it because it is my money. These workers don't have bank accounts...A lot of people are keeping money in their houses because they don't want too many explanations" Gachagua explained.

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He further went on to criticize some of the banking regulations pointing out that they will hinder the circulation of money in the country.

"Many Kenyans have the luxury to do banking if for instance, you are doing your small business and then you can't access your money in the bank, what's the need for you to bank your money? you rather stop banking. You know the government is supposed to provide services but we have brought too much government to people's lives. For you to deposit KSh 1 million, you have to explain and people want to be private" Gachagua added.

On july 26, Gachagua pleaded not guilty to corruption charges levelled against him after appearing in the Milimani anti-corruptin law court.

He was facing charges of money laundering and unlawfuly receiving Ksh 7 billion.

Gachagua maintained his innocence and was released on a cash bail of Ksh 12 million or Ksh 25 million bond.

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Citizen TV Mathira Rigathi Gachagua


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